The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M COMPANY COM 88579y101 518 3,140 SH   SOLE   3,140 0 0
ABBOTT LABS COM COM 002824100 268 5,788 SH   SOLE   5,788 0 0
AMERN EAGLE OUTFIT NEW COM COM 02553E106 745 43,620 SH   SOLE   43,620 0 0
APPLE COMPUTER INC COM 037833100 324 2,603 SH   SOLE   2,603 0 0
BANK OF NEW YORK CO (New) COM 064058100 9,782 243,099 SH   SOLE   243,099 0 0
BANK OF NEW YORK CO (New) COM 064058100 235 5,850 SH   OTR   5,850 0 0
BERKSHIRE HATHAWAY CL B COM 084670702 277 1,917 SH   SOLE   1,917 0 0
BOEING COMPANY COM 097023105 2,870 19,126 SH   SOLE   19,126 0 0
BOEING COMPANY COM 097023105 26 175 SH   OTR   175 0 0
BRISTOL-MEYERS SQUIBB COM 110122108 517 8,017 SH   SOLE   8,017 0 0
CARNIVAL CORPORATION COM 143658300 16,341 341,583 SH   SOLE   341,583 0 0
CARNIVAL CORPORATION COM 143658300 60 1,250 SH   OTR   1,250 0 0
CATERPILLAR INC COM 149123101 207 2,583 SH   SOLE   2,583 0 0
CHEVRON CORP COM 166764100 2,719 25,902 SH   SOLE   25,902 0 0
CHEVRON CORP COM 166764100 210 2,000 SH   OTR   2,000 0 0
CHUBB CORPORATION COM 171232101 14,592 144,337 SH   SOLE   144,037 0 300
CHUBB CORPORATION COM 171232101 53 525 SH   OTR   525 0 0
CLOROX COMPANY COM 189054109 892 8,080 SH   SOLE   8,080 0 0
COCA-COLA COMPANY COM 191216100 410 10,118 SH   SOLE   10,118 0 0
COLGATE-PALMOLIVE CO COM 194162103 230 3,324 SH   SOLE   3,324 0 0
CORNING INCORPORATED COM 219350105 258 11,367 SH   SOLE   11,367 0 0
CVS CAREMARK CORPORATION COM 126650100 17,315 167,768 SH   SOLE   167,768 0 0
CVS CAREMARK CORPORATION COM 126650100 59 575 SH   OTR   575 0 0
DEERE & CO COM COM 244199105 67 768 SH   SOLE   768 0 0
DEERE & CO COM COM 244199105 175 2,000 SH   OTR   2,000 0 0
EMERSON ELECTRIC CO COM 291011104 7,790 137,584 SH   SOLE   137,584 0 0
EMERSON ELECTRIC CO COM 291011104 24 425 SH   OTR   425 0 0
EXPRESS SCRIPTS INC COM 30219g108 1,201 13,842 SH   SOLE   13,817 0 25
EXXON MOBIL CORPORATION COM 30231G102 5,124 60,279 SH   SOLE   59,579 0 700
EXXON MOBIL CORPORATION COM 30231G102 153 1,800 SH   OTR   1,800 0 0
GENERAL ELECTRIC CO COM 369604103 780 31,450 SH   SOLE   31,150 0 300
GENERAL ELECTRIC CO COM 369604103 74 3,000 SH   OTR   3,000 0 0
GENERAL MOTORS CORP. COM 37045V100 21,458 572,213 SH   SOLE   572,213 0 0
GENERAL MOTORS CORP. COM 37045V100 62 1,650 SH   OTR   1,650 0 0
GENUINE PARTS COMPANY COM 372460105 537 5,760 SH   SOLE   5,760 0 0
GLAXO SMITHKLINE ADS COM 37733w105 228 4,934 SH   SOLE   4,934 0 0
HSBC HLDGS PLC ADS COM 404280406 4,613 108,320 SH   SOLE   108,320 0 0
HSBC HLDGS PLC ADS COM 404280406 15 350 SH   OTR   350 0 0
IBM CORP COM 459200101 595 3,705 SH   SOLE   3,605 0 100
IBM CORP COM 459200101 66 413 SH   OTR   413 0 0
INTEL CORPORATION COM 458140100 11,551 369,408 SH   SOLE   369,408 0 0
INTEL CORPORATION COM 458140100 84 2,700 SH   OTR   2,700 0 0
JOHNSON & JOHNSON COM 478160104 1,189 11,821 SH   SOLE   11,821 0 0
JOHNSON CONTROLS INC COM 478366107 20,216 400,794 SH   SOLE   400,469 0 325
JOHNSON CONTROLS INC COM 478366107 293 5,800 SH   OTR   5,800 0 0
KOHL'S CORPORATION COM 500255104 9,739 124,463 SH   SOLE   124,263 0 200
KOHL'S CORPORATION COM 500255104 33 425 SH   OTR   425 0 0
LEUCADIA NATIONAL COR COM 527288104 18,172 815,272 SH   SOLE   815,272 0 0
LEUCADIA NATIONAL COR COM 527288104 54 2,425 SH   OTR   2,425 0 0
LIBERTY INTERACTIVE CORP INT C COM 53071M104 11,033 377,981 SH   SOLE   377,631 0 350
LIBERTY INTERACTIVE CORP INT C COM 53071M104 34 1,175 SH   OTR   1,175 0 0
LIBERTY MEDIA CORP DELAWARE CO COM 531229300 5,412 141,670 SH   SOLE   141,670 0 0
LIBERTY MEDIA CORP DELAWARE CO COM 531229300 17 450 SH   OTR   450 0 0
MARKEL CORP COM COM 570535104 23,552 30,629 SH   SOLE   30,589 0 40
MARKEL CORP COM COM 570535104 75 97 SH   OTR   97 0 0
MARSH & McLENNAN COS COM 571748102 306 5,462 SH   SOLE   5,462 0 0
MCKESSON CORP COM 58155q103 316 1,395 SH   SOLE   1,395 0 0
MERCK & CO. INC. COM 58933Y105 12,888 224,209 SH   SOLE   223,809 0 400
MERCK & CO. INC. COM 58933Y105 233 4,050 SH   OTR   4,050 0 0
MICROSOFT CORPORATION COM 594918104 16,213 398,796 SH   SOLE   398,371 0 425
MICROSOFT CORPORATION COM 594918104 181 4,450 SH   OTR   4,450 0 0
MONSANTO CO COM 61166w101 284 2,523 SH   SOLE   2,523 0 0
NATIONAL OIL WELL VARCO COM 637071101 8,635 172,739 SH   SOLE   172,589 0 150
NATIONAL OIL WELL VARCO COM 637071101 26 525 SH   OTR   525 0 0
NOVARTIS AG ADS COM 66987v109 568 5,759 SH   SOLE   5,759 0 0
NOW INC COM COM 67011P100 7,057 326,129 SH   SOLE   326,104 0 25
NOW INC COM COM 67011P100 23 1,075 SH   OTR   1,075 0 0
PEPSICO INC. COM 713448108 1,141 11,933 SH   SOLE   11,633 0 300
PFIZER INC. COM 717081103 2,222 63,869 SH   SOLE   63,869 0 0
PFIZER INC. COM 717081103 27 788 SH   OTR   788 0 0
PROCTER & GAMBLE CO. COM 742718109 1,460 17,813 SH   SOLE   17,813 0 0
PROCTER & GAMBLE CO. COM 742718109 197 2,400 SH   OTR   2,400 0 0
REDWOOD TRUST INC COM 758075402 8,829 494,078 SH   SOLE   493,648 0 430
REDWOOD TRUST INC COM 758075402 84 4,725 SH   OTR   4,725 0 0
ROCKWELL COLLINS COM 774341101 1,766 18,294 SH   SOLE   18,294 0 0
ROCKWELL COLLINS COM 774341101 140 1,450 SH   OTR   1,450 0 0
ROYAL DUTCH SHELL ADR COM 780259206 579 9,710 SH   SOLE   9,710 0 0
SEMPRA ENERGY COM 816851109 289 2,650 SH   SOLE   2,650 0 0
SEMPRA ENERGY COM 816851109 287 2,630 SH   OTR   2,630 0 0
STERLING RESOURCES L COM 858915101 6 40,000 SH   SOLE   40,000 0 0
TARGET CORPORATION COM 87612E106 621 7,572 SH   SOLE   7,572 0 0
TARGET CORPORATION COM 87612E106 164 2,000 SH   OTR   2,000 0 0
UNILEVER PLC ADR COM 904767704 7,485 179,447 SH   SOLE   179,447 0 0
UNILEVER PLC ADR COM 904767704 189 4,520 SH   OTR   4,520 0 0
UNITED TECHNOLOGIES COM 913017109 771 6,577 SH   SOLE   6,577 0 0
VALERO ENERGY CORP. COM 91913Y100 10,265 161,348 SH   SOLE   161,348 0 0
VALERO ENERGY CORP. COM 91913Y100 164 2,575 SH   OTR   2,575 0 0
WELLS FARGO & CO COM 949746101 22,267 409,322 SH   SOLE   409,322 0 0
WELLS FARGO & CO COM 949746101 72 1,325 SH   OTR   1,325 0 0